An announcement from Flex ( (FLEX) ) is now available.
Flex Ltd.’s Board of Directors, advised by its Compensation and People Committee and an independent compensation consultant, has granted substantial one-time supplemental equity awards to executives Michael P. Hartung and Hooi Tan, valued at $4.6 million each. The awards, half in performance-based and half in service-based restricted share units, aim to boost long-term retention and align executive motivation with shareholder interests over a five-year period. These awards have stringent conditions and do not allow for acceleration or continued vesting upon retirement or termination without cause, unless there’s a change in company control, underscoring a commitment to long-term performance and employment.
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